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775 Independence Boulevard

Associated Bank Funds $25.4M Construction Loan For Bridge Point I-55 Commerce Center
FINANCEDIndustrial

Associated Bank Funds $25.4M Construction Loan For Bridge Point I-55 Commerce Center

775 Independence Boulevard

$25,400,000

$87/SF

Building Size

292,054 SF

Asset Type

Industrial

Closing

Jul 12, 2024

AI

The property at 775 Independence Boulevard in Romeoville is the site of Bridge Point I-55 Commerce Center, a 292,054-square-foot industrial project developed by Bridge Industrial. The project comprises two buildings with 68 exterior docks and 330 car parking stalls.

Summary of transaction details:

Associated Bank provided a $25.4 million construction loan for the Bridge Point I-55 Commerce Center project. The industrial development is set to be completed in July 2025 and is currently being marketed for lease by NAI Hiffman.

Players

Adam Roth

NAI Global

Broker

$25.4M

vol

3 deals

Broker
Associated Bank
Associated BankLender

Romeoville Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.62%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93